Business Standard

NCLAT decision on Jet's CoC meetings a welcome signal to foreign investors

The NCLAT's decision is based on a 'Cross Border Insolvency Protocol' agreed upon by the Dutch insolvency court administrator and the Indian Resolution Professional of debt-laden Jet Airways

Jet Airways
Premium

Jet Airways

Aashish Aryan
The National Company Law Appellate Tribunal’s (NCLAT) decision to allow a Dutch court administrator to participate in the Jet Airways’ committee of creditors (CoC)’s meetings is a welcome signal to foreign investors on the ease of doing business in India. 

The NCLAT’s decision is based on a ‘Cross Border Insolvency Protocol’ agreed upon by the Dutch insolvency court administrator and the Indian Resolution Professional of debt-laden Jet Airways. While all the points had been mutually agreed, the issue of whether the Dutch court administrator could participate in CoC meetings remained the bone of contention.

A three-judge Bench headed by NCLAT Chairperson Justice

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Sep 29 2019 | 8:31 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com